The average price of Bangladesh teas fell nearly 1.00 percent to 99.48 taka ($1.43) per kg on lower overseas demand at a weekly auction on Wednesday, brokers said.
"More than 1.22 million kg were sold at an average price of 99.48 taka per kg, down 1.00 taka from the last sale. The withdrawal percentage was 6.23," said an official of the National Brokers Limited (NBL), the country's largest tea broker.
Buyers from Pakistan and Bangladesh participated in the auction, held a day behind schedule due to an opposition-led nation-wide strike on Tuesday.
Some 300 kg of well made Broken Orange Pekoe realised the highest price of 155 taka per kg, followed by another 100 kg of Pekoe Fannings selling at 148 taka.
Other grades sold between 84 and 134 taka.
"There was a good demand at generally lower rates following limited interest from Pakistan," a market report by NBL said. The next weekly auction will be held on July 11 with an expected offering of nearly 1.07 million kg.